First Bank & Trust grew its holdings in shares of Microsoft Co. (NASDAQ:MSFT – Free Report) by 4.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 34,759 shares of the software giant’s stock after purchasing an additional 1,578 shares during the period. Microsoft makes up about 3.0% of First Bank & Trust’s portfolio, making the stock its 6th biggest holding. First Bank & Trust’s holdings in Microsoft were worth $11,837,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Pacific Sun Financial Corp acquired a new position in shares of Microsoft during the second quarter valued at about $681,000. WJ Wealth Management LLC increased its holdings in shares of Microsoft by 375.0% during the second quarter. WJ Wealth Management LLC now owns 10,910 shares of the software giant’s stock valued at $3,715,000 after acquiring an additional 8,613 shares in the last quarter. Occidental Asset Management LLC grew its holdings in shares of Microsoft by 3.0% during the second quarter. Occidental Asset Management LLC now owns 28,792 shares of the software giant’s stock valued at $9,805,000 after buying an additional 846 shares during the last quarter. Etfidea LLC grew its holdings in shares of Microsoft by 9.1% during the second quarter. Etfidea LLC now owns 2,356 shares of the software giant’s stock valued at $802,000 after buying an additional 196 shares during the last quarter. Finally, Juncture Wealth Strategies LLC lifted its holdings in shares of Microsoft by 1.4% during the second quarter. Juncture Wealth Strategies LLC now owns 2,653 shares of the software giant’s stock worth $903,000 after purchasing an additional 37 shares during the period. Hedge funds and other institutional investors own 69.20% of the company’s stock.
Insider Activity
In related news, CEO Satya Nadella sold 38,234 shares of the firm’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $328.43, for a total transaction of $12,557,192.62. Following the completion of the sale, the chief executive officer now directly owns 800,668 shares of the company’s stock, valued at approximately $262,963,391.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Bradford L. Smith sold 50,000 shares of the stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $337.20, for a total transaction of $16,860,000.00. Following the completion of the transaction, the insider now owns 588,084 shares of the company’s stock, valued at approximately $198,301,924.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Satya Nadella sold 38,234 shares of the stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $328.43, for a total value of $12,557,192.62. Following the transaction, the chief executive officer now directly owns 800,668 shares in the company, valued at approximately $262,963,391.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 115,049 shares of company stock valued at $38,195,619. 0.03% of the stock is currently owned by company insiders.
Microsoft Price Performance
Microsoft (NASDAQ:MSFT – Get Free Report) last announced its quarterly earnings results on Tuesday, July 25th. The software giant reported $2.69 earnings per share for the quarter, beating the consensus estimate of $2.55 by $0.14. The firm had revenue of $56.19 billion for the quarter, compared to analysts’ expectations of $55.49 billion. Microsoft had a net margin of 34.15% and a return on equity of 38.70%. The company’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.23 EPS. Equities research analysts anticipate that Microsoft Co. will post 10.9 earnings per share for the current fiscal year.
Microsoft Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Thursday, November 16th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend is Wednesday, November 15th. This is a positive change from Microsoft’s previous quarterly dividend of $0.68. Microsoft’s payout ratio is presently 28.07%.
Analysts Set New Price Targets
A number of equities research analysts recently commented on MSFT shares. Mizuho lifted their target price on Microsoft from $360.00 to $390.00 and gave the stock a “buy” rating in a report on Monday, July 17th. DA Davidson raised their target price on shares of Microsoft from $350.00 to $415.00 in a report on Friday, July 21st. StockNews.com started coverage on shares of Microsoft in a report on Thursday, August 17th. They set a “buy” rating for the company. Tigress Financial raised their target price on Microsoft from $411.00 to $433.00 and gave the stock a “buy” rating in a report on Wednesday, August 2nd. Finally, KeyCorp raised their target price on Microsoft from $340.00 to $400.00 in a report on Tuesday, July 18th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and thirty-four have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $375.03.
View Our Latest Analysis on MSFT
About Microsoft
Microsoft Corporation develops and supports software, services, devices and solutions worldwide. The Productivity and Business Processes segment offers office, exchange, SharePoint, Microsoft Teams, office 365 Security and Compliance, Microsoft viva, and Microsoft 365 copilot; and office consumer services, such as Microsoft 365 consumer subscriptions, Office licensed on-premises, and other office services.
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